A new promotion from Amazon.com Inc. (NASDAQ:AMZN) lets Prime members save on fuel at 7,000 BP-owned gas stations, including Amoco and AMPM sites. Enrolling in the reward program Earnify will let prime members earn a 10-cent per gallon discount at the pump by providing a phone number or using a linked payment method.This action is similar to what retail behemoth Walmart Inc. (WMT) dished out recently, which provides a similar 10-cent discount to Walmart+ members at ExxonMobil (XOM) and Murphy gas stations. As businesses try to increase consumer loyalty by fuel savings, the retail market’s competitiveness keeps getting fiercer over time.
With an emphasis on both conventional gasoline and electric car markets, Amazon’s effort is scheduled to grow next year to include BP Pulse-operated EV charging stations. It is important to note that Amazon stock has been on a superb run over the past year, offering tremendous upside potential for investors. Particularly its efforts in expanding its AI repertoire have helped it stand out from its break-neck competition.
This article first appeared on GuruFocus.
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